Immigration News Blog
Monday, May 05, 2008
Remittances to Latin America are flat or downRemittances to Latin America are flat or down
By Peter Rousmaniere
From 2001 to 2006, remittances from the U.S. to Latin America boomed from $15 billion to $45 billion, according to the Inter-American Development Bank. Since then they have barely grown. Why? According to a survey of 5,000 Latin American immigrants reported in the New York Times, “Latino immigrants said life had become more difficult for them here. Of those interviewed, 81 percent said it is harder to find a good-paying job. Almost 40 percent said they were earning less this year than the previous year. The largest group of immigrants in the survey — 18 percent — worked in construction, which has been especially hard hit in the slowdown.
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